Y Combinator-Backed Circle Medical Raises $3.5M Led by A.Capital to Scale Tech-Driven Healthcare Practice
SAN FRANCISCO--(BUSINESS WIRE)--Nov 2, 2018--Circle Medical, a full stack primary healthcare practice, has raised $3.5M in funding led by A.Capital. Existing investors Y Combinator and Collaborative Fund participated in the round alongside new investor WELL Health Technologies.
“We are big believers in Circle Medical’s full-stack model,” said Ronny Conway, Founder and General Partner at A.Capital. “We love how they are using software to disrupt a large market with an asset-light approach.”
Corporate pop-up clinics
The funding will be used to scale the company’s offering with employers. Circle Medical powers telemedicine and pop-up clinics at 22 sites in the San Francisco Bay area.
The pop-up clinics at companies such as Flexport, Segment, Gymboree and General Electric bring family medicine doctors to sites with 300 to 5,000 employees. This allows them to compete for talent and enjoy the benefits of lower healthcare costs and less absenteeism that traditionally would only be available to sites with 10,000 or more employees which can bear the expense of a full-time onsite clinic.
Circle Medical also operates a flagship brick and mortar clinic across from the Salesforce Transit Center in San Francisco, where engineering and product teams are able to collaborate with physicians.
Full stack model
As a full stack healthcare startup, Circle Medical both operates a medical practice and builds the software to run it. This level of integration leads to faster innovation, lower costs and better outcomes. Physicians are employed full-time by affiliated medical practices that practice exclusively on the Circle Medical platform.
Circle Medical is an in-network provider with all PPO -- and most HMO -- plans in California with no membership or extra fees.
About Circle Medical
Founded in 2015, Circle Medical is an asset-light medical practice that uses technology to deliver a better patient experience and outcomes at a lower cost. Its patient-facing iOS and Android apps automate traditionally human-intensive processes such as scheduling, billing and managing medical records.
Physician tools use automation and artificial intelligence to ease physician workloads and provide decision support for diagnosing conditions based on medical data collected from 20,000 patients to date. The company is on a $2.6M annualized revenue run rate, up 3x year over year, and is on track to be profitable next quarter.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181102005112/en/
CONTACT: Circle Medical
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE PRACTICE MANAGEMENT HEALTH
SOURCE: Circle Medical
Copyright Business Wire 2018.
PUB: 11/02/2018 08:00 AM/DISC: 11/02/2018 08:01 AM